What if you were able to cut vendor negotiation time by 80%?
Uncover ContractAI
AI-first Contract Analysis, Creation & Negotiation
ContractAI is an AI powered SaaS-based solution that automates the analysis, creation and negotiation of contracts. ContractAI utilizes AI to automatically analyze historical contracts to author templates and identify clause options that are win-win, contentious, or high risk. This allows all parties to better understand negotiation boundaries, legal and compliance implications, obligation intents and permissible thresholds to make better contracting decisions.
ContractAI utilizes AI generated templates to eliminate the painful redlining process. Enterprises can streamline the terms of negotiation based on past learnings, thereby reducing exposure to high-risk terms and conditions. Vendors can easily choose alternative acceptable terms and significantly reduce the business, legal and procedural costs utilizing an AI-based scoring system.
ContractAI uses advanced language models and a knowledge graph-based algorithm to parse historical contracts automatically, to identify acceptable and contentious clauses and to create a new template. ContractAI also uses Machine Learning to provide insights into evolving behavior patterns that are then used to improve the contract template, structure, language and clause options.
Key Benefits
Streamlines Negotiation Process
Eliminates the painful process and the associated risks of passing versions between procurement, vendor and legal
Drastic Reduction in Contracting Time
Proven ability to reduce contracting time by up to 80% by leveraging AI to automatically generate win-win templates and clause options
AI-Powered Contracting Insights
Understand negotiation boundaries, legal and compliance implications, obligation intents, permissible limits and thresholds
Mitigates Contract Risk
Impact Analysis and scoring of clause options that have been vetted by legal gives procurement and vendors the information needed to mitigate contract risk
ContractAI Key Features
Automated Ingestion & Metadata Extraction
Ability to ingest a wide array of templates and documents PDFs, OCRs, PowerPoints, Emails, Web Assets, etc. AUTOMATICALLY
Innovative Clause and Template Authoring
Historical contracts and templates are analyzed and a bespoke template including clause options is created based on terms that have proven to be historically win-win
Control Negotiation through Value-based Scoring
Assigns a fixed monetary or points value to each vendor to spend on choices based on the expected value/risk to buyer
Contract Templates that Evolve Over Time
Machine Learning is leveraged to provide insights into evolving behavior patterns that are then used to improve the contract template, terms, structure, language and clause options
Contract Comprehension
ContractAI thinks like “legal” and “procurement”, enabled by App Orchid’s powerful underlying “Knowledge Graph”
Comparison and Semantic Similarity Engine
Ability to identify missing terms and pre-requisites, such as negotiation boundaries, policy transgressions, material changes, clause and template similarity, obligation exposures, etc.
ContractAI in Action
Fortune 100 Energy Company
App Orchid partnered with one the world’s largest energy companies to help them leverage AI and machine learning to reduce their average contracting time from 90+ days to 14 days. ContractAI helped them eliminate painful redlining process by restricting the terms of negotiation, virtually eliminating the risk of high-risk terms being embedded in the contract.